The Corporation Tax rate has been reduced to 20% The new Diverted Profits Tax has been introduced The bank levy has increased from 0.156% to 0.21% Air Passenger Duty has been restructured – abolishing bands C and D Hospice charities, blood bikes, search and rescue, and air ambulance charities will be eligible for VAT refunds […]
The new flexibility, that certain pension pot holders can avail themselves from 6 April 2015, offers more opportunity regarding the funds they have saved. Once you reach minimum pension age, normally 55, you will be able to: leave your pension fund invested, no change; enter drawdown, thereby taking some of your money whilst leaving the […]
In an effort to streamline and simplify the administration of the Self Assessment tax system HMRC is planning to open digital accounts for fifty million taxpayers by 2020. When completed, these taxpayers will no longer be required to submit Self Assessment tax returns to HMRC. Instead, HMRC will gather information from employers, pension providers, banks […]
There were a number of changes to promote savings in the Budget. The main changes are set out below: Help to Buy ISA From autumn 2015, a new ISA is being launched that will enable first time buyers to save for their deposit. An initial deposit of £1,000 is allowed with additional monthly savings of […]
Chancellor George Osborne launches the campaign as G20 ministers agree next steps in global fight against tax avoidance and evasion. As G20 ministers welcome a new global standard to automatic tax information exchange and call on the governments of financial centres to sign up to new international tax information sharing agreements, the Chancellor of the […]
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